Mubadala Development Company, an Abu Dhabi state-owned investment group, is thought to be attempting to bid for airports run by BAA, according to The Independent newspaper.Two years ago Mubadala pitched for the company as part of a consortium led by the US investment bank Goldman Sachs. But it lost out to the Spanish conglomerate Ferrovial, which took BAA private in a £10.3bn deal.
Ferrovial now faces having to break up BAA next year, following the Competition Commission’s preliminary findings suggesting that airport sell-offs were necessary to stop monopolies in London and Scotland. Gatwick, Stansted and Glasgow are all likely to be sold.
The newspaper says Mubadala is known to have contacted former BAA staff last year to help develop potential bids, while transport bankers named the group as a probable entrant in any upcoming auction. The Abu Dhabi giant’s interests range from aerospace to healthcare. It sponsors the Ferrari Formula One team and is chaired by the Crown Prince of Abu Dhabi.